Ready Capital’s (RC) Neutral Rating Reiterated at B. Riley

B. Riley restated their neutral rating on shares of Ready Capital (NYSE:RC) in a research report sent to investors on Tuesday, MarketBeat Ratings reports. They currently have a $10.00 price target on the real estate investment trust’s stock, down from their prior price target of $12.00.

Several other analysts also recently commented on RC. UBS Group reduced their target price on shares of Ready Capital from $8.50 to $7.50 and set a “neutral” rating for the company in a report on Friday, November 15th. JMP Securities reduced their price objective on Ready Capital from $10.50 to $9.50 and set a “market outperform” rating for the company in a report on Thursday, December 12th. Finally, Piper Sandler lowered their target price on Ready Capital from $9.50 to $8.00 and set a “neutral” rating on the stock in a research note on Monday, September 16th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $8.82.

Ready Capital Trading Down 3.1 %

Shares of Ready Capital stock opened at $6.65 on Tuesday. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.67 and a quick ratio of 1.67. The business has a fifty day simple moving average of $7.18 and a two-hundred day simple moving average of $7.81. Ready Capital has a 1 year low of $6.62 and a 1 year high of $10.36. The company has a market capitalization of $1.12 billion, a price-to-earnings ratio of -9.50 and a beta of 1.43.

Ready Capital Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 15.04%. The ex-dividend date is Tuesday, December 31st. Ready Capital’s dividend payout ratio (DPR) is currently -142.86%.

Institutional Trading of Ready Capital

Several large investors have recently modified their holdings of the stock. Victory Capital Management Inc. lifted its stake in Ready Capital by 2.2% during the second quarter. Victory Capital Management Inc. now owns 63,699 shares of the real estate investment trust’s stock worth $521,000 after purchasing an additional 1,375 shares during the last quarter. Louisiana State Employees Retirement System raised its holdings in shares of Ready Capital by 4.0% during the 3rd quarter. Louisiana State Employees Retirement System now owns 81,300 shares of the real estate investment trust’s stock worth $620,000 after buying an additional 3,100 shares in the last quarter. Thrivent Financial for Lutherans lifted its position in shares of Ready Capital by 2.4% during the 3rd quarter. Thrivent Financial for Lutherans now owns 132,098 shares of the real estate investment trust’s stock worth $1,008,000 after buying an additional 3,123 shares during the last quarter. KBC Group NV boosted its stake in Ready Capital by 64.1% in the third quarter. KBC Group NV now owns 8,318 shares of the real estate investment trust’s stock valued at $63,000 after buying an additional 3,248 shares in the last quarter. Finally, Norden Group LLC grew its position in Ready Capital by 25.6% in the second quarter. Norden Group LLC now owns 23,002 shares of the real estate investment trust’s stock valued at $188,000 after acquiring an additional 4,693 shares during the last quarter. 55.87% of the stock is owned by institutional investors and hedge funds.

Ready Capital Company Profile

Ready Capital Corporation operates as a real estate finance company in the United States. It operates through two segments: LMM Commercial Real Estate and Small Business Lending. The company originates, acquires, finances, and services lower-to-middle-market (LLM) commercial real estate loans, small business administration (SBA) loans, residential mortgage loans, construction loans, and mortgage-backed securities collateralized primarily by LLM loans, or other real estate-related investments.